decisions decisions.
how to make them
I personally swear by “Eenie, meenie, miney moe”.
You could also toss a coin, pull a straw, or use a blindfold. Any mechanism will inevitably steer you in the right direction.
The only exception, of course, is this life-changing thought that’s plaguing you now:
Where should I do my MBA?
Unfortunately, B-School decisions are slippery and often require less obvious tactics.
So what is the best approach? First of all: Get in touch with yourself. You must understand your academic strengths, career goals, financial capabilities, and geographic preferences before you can find a program that is best for you.
So identify your limitations, flexibilities, habits, goals, needs and desires. Then, consider the various factors that may contribute to your MBA decision.
We designed the following sections to simplify this process. If you stick to the guidelines, you should have no problem choosing the right B school for you.
Academic and professional factors
Which field of study suits your ideal job? Marketing, Accounting, Finance – each concentration offers a different type of expertise that may or may not be relevant to you in your future career.
So if you want to be an investment banker, what kind of expertise do you need to acquire through an MBA? What are your personal, academic strengths and how can you use them for your studies and later professional life? Are you a number wizard? Do you have a solid basis for moral behavior? Are your management skills just outstanding? Then you should attend a B-School that will highlight and expand your skills.
Are there any specific majors or classes you would like to take in B-School? Many programs have unique courses or subjects not available elsewhere. So you want to be as specific as possible about your interests in order to find the perfect institution.
financial costs
Most business students face the tax challenge. An MBA is a desirable professional qualification, but expensive to acquire.
If you are in financial distress, weigh your options. What kind of program can you afford? Can you get grants or loans? Are you eligible for federal assistance? Can you hold a job while studying to cut costs? Is your current employer willing to contribute to your education?
What payment options are available to you? What programs or applications do you need to research to ease the financial burden? B-School is costly, but remember there are loopholes and alternatives. You just have to find them!
location
Geography plays a big part in your MBA pursuits. There are many factors to consider here.
Are you restricted in any way? Do you have a spouse or family with children? If so, you should consider schools that are closer to them.
Would you like to live close to your relatives and friends? Is being close to home important to you? Alternatively, would you like to venture into the surrounding area? Would you consider studying abroad?
How could an overseas MBA contribute to your future success? And what kind of business climate do you want? In many cases, the B school you attend will lead you to jobs in the area. So do you want to live in a big city or a suburb?
Close to the Stock Exchange or a major banking district? Would you like to work as an international expatriate for a multinational corporation? Or does a small local business environment appeal to you?
The location has an impact on your current life, but also on your employment opportunities. Make sure you research the shops and businesses near the schools you are applying to.
Look at the companies that are making offers to the students. Where could you find a job after the program? Can your family move with you? As always, keep the big picture in mind.
Finally, you may have other personal requirements that are unique to your situation. Is diversity important to you? Would you like to attend a school with high minority representation?
Do you need specialized facilities or medical services? Are there specific professors or resources you would like access to? Would you like to have a part-time job while you are at school?
These factors may seem less important, but they are not. You are an individual like no other. Especially the school you attend should be tailored to you.
After researching these factors, you can find schools that fit your needs. You can research online, meet with your college advisor, or discuss options with your current employer.
Do not hesitate to ask relatives or friends for help. Finally, Business Week, US News, and World Report are great resources for MBA information.
This process may sound daunting – but with the right groundwork and honest self-examination, the quest should be a lot easier.
Good luck with the selection process!
